Commodities
Trump-Xi Summit Looms Large Over US Corn and Soybean Futures
US corn and soybean futures declined on Friday as traders took profits from recent highs. The Chicago Board of Trade (CBOT) November soybeans settled at $13.03-1/2 per bushel, down 16-1/4 cents or 1.2 percent.
December corn ended at $5.27-1/2 a bushel, down 3 cents or 0.6 percent after hitting a one-week low of $5.25-1/2. December wheat finished at $7.14-1/4 a bushel, down 12-3/4 cents or 1.8 percent.
Analysts pointed to the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping as a key factor in the price movement. The summit will focus on Chinese purchases of soybeans and other US agricultural goods, which have been impacted by trade tensions.